Excited for the iPad 2? Well, there should be no shortage problems or difficulties in finding one if DigiTimes is reporting correctly. The source claims 300,000-400,000 iPad 2 units will be ready for the initial launch and a further 6-6.5 million throughout the first quarter of this year. Production and shipments are expected to ramp up even faster throughout the year, as 10-12 million iPads are projected during the second quarter of 2011. By the end of the year, Apple could reach its goal of 40 million iPads if suppliers can keep up with the demand.

In order to produce such immense number of iPads, suppliers have been told in January to phase out production of first generation iPads after about 1.7-2 million and then immediately begin production on its successor. The reduced downtime between products likely allowed for faster assembly and shipments within a shorter timeframe. This would also fall in line with our previous reports about the iPad 2 already being in production earlier this year.

The Apple iPad 2 is currently slated for a March 11th release in the United States. The online Apple Store has not yet begun accepting pre-orders as of this writing, but with only days until the official launch, the anticipation and wait should be reasonably tolerable.